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Shivalik Bimetal Controls (513097) investor relations material
Shivalik Bimetal Controls Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2026 saw resilient performance with only a 0.9% volume contraction and strong profit after tax growth of 26.3% year-over-year, driven by margin expansion and operating leverage.
Revenue from operations grew 8.09% year-over-year to ₹118.42 crore in Q2 FY26, and 8.46% to ₹235.12 crore for H1 FY26, reflecting steady business momentum and robust execution.
Gross margin improved by up to 333 bps and consolidated EBITDA margin rose up to 306 bps year-over-year, reflecting effective pricing, product mix, and cost control.
Earnings per share increased to INR 8.23 for H1 FY26, highlighting sustainable profitability.
Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.
Financial highlights
Asia (excluding India) sales grew 38.5% year-over-year, offsetting softness in some export markets.
India shunt sales rose 25.23% in Q2, driven by smart meter and industrial demand.
Americas and Europe saw temporary volume declines due to inventory adjustments and order deferrals, not structural weakness.
Shunt segment revenue grew 10.72% YoY in Q2 FY26 and 10.14% in H1 FY26; Bimetal segment revenue increased 5.62% in Q2 and 6.87% in H1.
Export share increased to 56% in FY25, up from 52% in FY18.
Outlook and guidance
Management expects momentum to stabilize in H2 as customers rebalance inventories and resume normal scheduling.
End markets in smart metering, industrial automation, and mobility electronics offer multi-year growth visibility.
Double-digit revenue growth for FY2027 is targeted, with a range of 13%-18% if trade issues resolve.
Forward integration into PCBA assemblies and backward integration for raw material processing are expected to improve margins and reduce working capital days.
Strategic acquisitions and geographic expansion, including a new subsidiary in Italy, are being explored for further market expansion.
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